The Indian government last year finalized a program to encourage companies to make battery cells locally as it seeks to establish a domestic supply chain for clean transport and renewable energy storage to meet its decarbonization goals. The government approved the PLI scheme 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage' for achieving a manufacturing capacity of 50 Giga Watt Hour (GWh) for enhancing India's manufacturing capabilities with a budgetary outlay of ₹ 18,100 crores.
RIL subsidiary Reliance New Energy Solar, Ola Electric, Hyundai Global Motors Company, and Rajesh Exports have been approved for receiving incentives under the Production Linked Incentive (PLI) scheme. Ola Electric and Hyundai will get incentives for 20 gigawatt hours (Gwh) capacity while Reliance and Rajesh Exports have won incentives for 5 Gwh. The selected firms would be required to set up the manufacturing facility within two years. The incentive will be disbursed thereafter over five years on the sale of batteries manufactured in India.
The ACC PLI scheme is anticipated to result in savings to the nation on account of the decline in import of crude oil to a significant extent and increase the stake of renewable energy at the national grid level. Other companies which had applied for the PLI scheme for Advanced Chemistry Cell (ACC) batteries were Lucas-TVS, Mahindra & Mahindra, Amara Raja Batteries, Exide Industries, Larsen & Toubro, and India Power Corporation Limited.
Please Login / register to post your comments!!
0 Comments